TCS, ASX Go-live with CHESS Release 1 for Cash Clearing

29 Apr 2026 CW Team

Clearing House Electronic Subregister System (CHESS) is used to facilitate clearing and settlement of trades in eligible financial products. It supports transfer of legal title through the CHESS sub-register and enables delivery-versus-payment settlement by transferring securities and cash between buyers and sellers. Release 1 of the CHESS replacement program delivers the new clearing component.

As part of the project, TCS implemented its TCS BaNCS for Market Infrastructure and Quartz Gateway solutions. The deployment provides ASX with a modern cloud-based clearing solution designed to be high-performance, scalable and resilient across multiple asset classes. The platform supports real-time trade novation and netting, complies with industry standards, and enables connectivity with multiple Australian exchanges. It also supports ISO 15022, ISO 20022 and FIX messaging standards.

TCS said the system has been benchmarked to process more than 20 million trades per day, supporting ASX’s future growth with improved resilience and scalability.

Tim Whiteley, Chief Information Officer, ASX, said, “Release 1 of the CHESS Project marks a significant milestone in the modernisation of Australia’s critical market infrastructure supporting post-trade clearing and settlement services.” He added that the successful deployment has enabled ASX to progress toward Release 2, targeted for go-live in 2029.

R Vivekanand, President BFSI Products and Platforms, TCS, said, “We are proud to have partnered with ASX on their modernization strategy and the successful Go-Live of CHESS Release-1.”

ASX is implementing the CHESS Replacement Project in two stages to reduce risk and manage change. Following the completion of Release 1, TCS, ASX and industry participants have commenced work on Release 2.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Tata Consultancy Services and the Australian Securities Exchange (ASX) have successfully gone live with CHESS Release 1, marking a key milestone in the modernisation of Australia’s post-trade clearing and settlement infrastructure.Clearing House Electronic Subregister System (CHESS) is used to facilitate clearing and settlement of trades in eligible financial products. It supports transfer of legal title through the CHESS sub-register and enables delivery-versus-payment settlement by transferring securities and cash between buyers and sellers. Release 1 of the CHESS replacement program delivers the new clearing component.As part of the project, TCS implemented its TCS BaNCS for Market Infrastructure and Quartz Gateway solutions. The deployment provides ASX with a modern cloud-based clearing solution designed to be high-performance, scalable and resilient across multiple asset classes. The platform supports real-time trade novation and netting, complies with industry standards, and enables connectivity with multiple Australian exchanges. It also supports ISO 15022, ISO 20022 and FIX messaging standards.TCS said the system has been benchmarked to process more than 20 million trades per day, supporting ASX’s future growth with improved resilience and scalability.Tim Whiteley, Chief Information Officer, ASX, said, “Release 1 of the CHESS Project marks a significant milestone in the modernisation of Australia’s critical market infrastructure supporting post-trade clearing and settlement services.” He added that the successful deployment has enabled ASX to progress toward Release 2, targeted for go-live in 2029.R Vivekanand, President BFSI Products and Platforms, TCS, said, “We are proud to have partnered with ASX on their modernization strategy and the successful Go-Live of CHESS Release-1.”ASX is implementing the CHESS Replacement Project in two stages to reduce risk and manage change. Following the completion of Release 1, TCS, ASX and industry participants have commenced work on Release 2.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..